New rendering and more details on 432 Park Avenue

Oct 7, 2012

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A New York Times feature on Manhattan’s future tallest apartment building unveiled a new rendering of Rafael Viñoly’s sky-piercing design.

The latest offering plan for 432 Park Avenue has 147 residential units, 122 of them one- to six-bedroom apartments from the 34th to the 95th floor. The other 25 units will be studios on the 28th and 29th floors for service personnel.

Pricing starts at about $5 million for a 1,422-square-foot one-bedroom, and the top-floor penthouse will run an eye-popping (or perhaps merely eyebrow-raising) $82.55 million. That’s about $10,000 per square foot, which exceeds the $8,700 a square foot that some mystery billionaire will pay for the $95 million duplex penthouse in contract at One57. In total, 432 Park Avenue’s 147 condos are being priced at $2.43 billion, a record for a residential project, according to appraisers.

The project will have a private restaurant with a terrace on the 12th floor, as well as a “club unit” with a fitness center, pool, whirlpool, sauna, steam room, library and conference rooms on the 12th to 16th floors. The tower will include 18 wine cellars, 12 office units, 3 retail spaces and a semicircular driveway that hearkens to 15 Central Park West.

How involved developer Harry Macklowe will be in the final product remains a subject of speculation, according to the New York Times. Macklowe, 75, is listed as part of the initial five-person condo board, but he may become a consultant for an upfront fee or salary, rather than sharing in the building’s profits. He purchased two buildings for condo conversions last year — 737 Park Avenue for $253.4 million and 150 East 72nd Street for $70 million.